Alibaba’s Russian venture

Source:Agencies Published: 2018/9/11 22:28:39

China's largest e-commerce company, Alibaba Group Holding, has set up a joint venture (JV) with the Russian Direct Investment Fund, mobile operator Megafon and internet group Mail.ru, the companies said on Tuesday.

Under the deal, signed during the Eastern Economic Forum, Alibaba will contribute AliExpress Russia to the JV, while Megafon will swap a 10 percent stake in Mail.ru for a 24 percent stake in AliExpress Russia.

Mail.ru will contribute its Pandao e-commerce business and cash in exchange for a 15 percent stake in AliExpress Russia, and the investment fund will acquire a 13 percent stake in AliExpress Russia.



Posted in: ECONOMY,COMPANIES

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